Thu Oct 03 04:26:16 UTC 2024: ## Anil Ambani’s Reliance Group Invests $1 Billion in Bhutan’s Green Energy Sector
**Thimphu, Bhutan:** Anil Ambani-led Reliance Group has announced a significant investment in Bhutan’s renewable energy sector, marking a major revival for the group. The investment, estimated at $1 billion, will see Reliance Enterprises, a new company jointly promoted by Reliance Infrastructure and Reliance Power, develop a 500 MW solar plant and a 770 MW hydroelectric project in the Himalayan kingdom.
The solar plant, to be built in Gelephu Mindfulness City, will be the largest of its kind in Bhutan and will be completed in two phases over the next two years. The hydroelectric project, Chamkharchhu-1, will be a run-of-the-river project, following Bhutanese government policy.
The investment is part of a strategic partnership between Reliance Group and Druk Holding and Investments Ltd (DHI), the commercial and investment arm of the Royal Government of Bhutan. The partnership aims to bolster investment in Bhutan’s renewable and green energy landscape, supporting the country’s net-zero goals.
“This initiative underscores Reliance Group’s long-term commitment to Bhutan and its renewable energy landscape,” said a Reliance Group statement. “Moreover, it reflects a dedication to sustainable development, drawing inspiration from Bhutan’s renowned Gross National Happiness Index, aiming to promote both economic growth and the well-being of people.”
The project is expected to provide a significant boost to Bhutan’s economy, creating jobs and contributing to its sustainable development goals. Reliance Enterprises will also focus on enhancing sustainable energy solutions and implementing smart distribution and metering systems throughout Bhutan.
The news comes after a period of financial struggles for the Reliance Group. This investment marks a significant step in the group’s revitalization and showcases its commitment to contributing to the global clean energy transition.
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